Divvy homes dallas series#

'Divvy offers an alternative to those caught in the middle-those who don't have enough savings for a down payment but are financially stable enough to afford a monthly payment on a house.

There is no question that there's an urgent need to solve our country's housing challenges,' said Adena Hefets, co-founder and CEO of Divvy Homes. 'We are thankful for our lenders' support in helping us enable homeownership for more Americans. Through Divvy Homes, more Americans now have the opportunity to work towards owning their own home and building generational wealth. More Americans - including nurses, healthcare technicians, teachers, firefighters, and 1099 workers - have been forced to put their dreams of homeownership on hold. COVID has exacerbated this trend driving up the cost of US homes. Millions of people have been excluded from homeownership due to challenges such as imperfect credit, uneven income, or little savings. This milestone means Divvy can continue to meet growing market demand and respond to our customers' home buying needs.' 'We are grateful to our lenders, including Barclays, Goldman Sachs, Cross River Bank, LibreMax Capital and Brigade Capital Management, for their continued support in helping Divvy grow its portfolio. 'Securing this additional debt capacity, along with a substantial reduction in our cost of capital, allows Divvy to continue scaling homeowner accessibility for more Americans,' said Tom Egan, CFO and head of capital markets, Divvy Homes. More than 750,000 Americans have applied for Divvy's homeownership program since 2017. Divvy provides a third option that helps customers save for a down payment while living in their dream home. By unlocking market demand, Divvy has closed more homes in 2021 than in the four years since its founding and doubled its market share in the last 10 months.

The real estate industry hasn't evolved to meet the new economy, serving only a fraction of the people who want to own a home. Historically, Americans only had two choices: rent or buy their homes. The funds will be used to refinance two existing debt facilities and provide substantial incremental capacity to buy new homes, supporting Divvy's 10-year goal of helping more than 100,000 families become financially responsible homeowners.ĭivvy Homes is defining a new path for Americans to become homeowners. This debt financing will allow Divvy Homes to provide more Americans with a path to homeownership through its innovative three-year program.

Divvy homes dallas series#

12, 2021 /PRNewswire/ - Divvy Homes, a market leader in the proptech industry, today announced that it has entered into new debt facilities totaling $735M. Combined with $200M raised two months ago from the Series D, Divvy Homes is well-capitalized to pursue its mission of making homeownership accessible to everyone.